Interest rate decision March 3 2020 Talk to us Phone us Email us Breadcrumbs Teachers Mutual Bank About us Member news 2020 Interest rate decision 19 March 19 March The Bank has announced we will be adjusting interest rates on a range of our products in light of the Reserve Bank's decision to cut rates by 0.25% on Tuesday 3 March 2020. In doing this we have tried to provide the best possible value for all members while taking into account the cost of funding, current market conditions and prudent financial management of the Bank. A summary of the changes are: Interest rates on fixed home loans decreasing, for new loans, from Friday, 20 March 2020. Interest rates on all new term deposits decreasing by 0.25% effective Friday, 20 March 2020. Interest rates on variable home loans decreasing, for new and existing business, from Wednesday, 1 April 2020. Interest rates on some savings accounts decreasing by 0.25% effective Wednesday, 1 April 2020. Individual product pages for home loans and savings accounts will be updated with the new rates from the dates mentioned above.
